Contents of the Financial Statements

for the Period Ended 31 December 2020

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 December 2020

The directors present their report with the financial statements of the company for the period ended 31 December 2020

Directors

The directors shown below have held office during the whole of the period from
1 January 2020 to 31 December 2020

Marco Saviozzi
Danielle Donaldson

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
25 March 2021

And signed on behalf of the board by:
Name: Marco Saviozzi
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2020

	2020	2019
	£	£
Turnover:	1,790,156	988,247
Cost of sales:	( 216,453 )	( 101,029 )
Gross profit(or loss):	1,573,703	887,218
Distribution costs:	0	0
Administrative expenses:	( 1,477,933 )	( 794,978 )
Other operating income:	0	0
Operating profit(or loss):	95,770	92,240
Interest receivable and similar income:	0	27
Interest payable and similar charges:	( 225 )	0
Profit(or loss) before tax:	95,545	92,267
Tax:	0	0
Profit(or loss) for the financial year:	95,545	92,267

Balance sheet

As at 31 December 2020

	Notes	2020	2019
		£	£
Called up share capital not paid:		0	0
Fixed assets
Intangible assets:		0	0
Tangible assets:	3	12,594	18,161
Investments:		0	0
Total fixed assets:		12,594	18,161
Current assets
Stocks:		0	0
Debtors:	4	516,924	538,720
Cash at bank and in hand:		360,821	263,818
Investments:		0	0
Total current assets:		877,745	802,538
Prepayments and accrued income:		0	0
Creditors: amounts falling due within one year:	5	( 348,730 )	( 301,369 )
Net current assets (liabilities):		529,015	501,169
Total assets less current liabilities:		541,609	519,330
Creditors: amounts falling due after more than one year:	6	( 133,866 )	( 207,131 )
Provision for liabilities:		0	0
Accruals and deferred income:		0	0
Total net assets (liabilities):		407,743	312,199
Capital and reserves
Called up share capital:		122	122
Share premium account:		1,849,388	1,849,388
Other reserves:		0	0
Profit and loss account:		(1,441,767 )	(1,537,311 )
Total Shareholders' funds:		407,743	312,199

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2020

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover represents amounts receivable in connection with a service level agreement whereby GMG Brokers Limited performs middle and back office services in respect of the Brokerage Income earned for GMG Dubai Limited.Turnover also represents commissions receivable from providing execution brokerage services. Brokerage Income is recognised on the date of execution of the trades.

  Tangible fixed assets depreciation policy

  Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

  Other accounting policies

  Various accounting policies as per the attached accounts.

Notes to the Financial Statements

for the Period Ended 31 December 2020

• 2. Employees

  	2020	2019
  Average number of employees during the period	9	4